Meridian Investment Counsel Inc. lifted its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,454 shares of the company’s stock after purchasing an additional 903 shares during the period. Molson Coors Brewing makes up approximately 1.9% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 6th biggest position. Meridian Investment Counsel Inc.’s holdings in Molson Coors Brewing were worth $3,484,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TAP. Dupont Capital Management Corp purchased a new stake in Molson Coors Brewing in the 3rd quarter worth $103,000. Cerebellum GP LLC purchased a new stake in Molson Coors Brewing in the 4th quarter worth $129,000. Valeo Financial Advisors LLC lifted its stake in Molson Coors Brewing by 58.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after purchasing an additional 686 shares in the last quarter. Advisor Group Inc. lifted its stake in Molson Coors Brewing by 48.9% in the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after purchasing an additional 853 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Molson Coors Brewing by 1,126.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $216,000 after purchasing an additional 2,410 shares in the last quarter. Institutional investors own 77.05% of the company’s stock.
Several analysts have commented on TAP shares. Susquehanna Bancshares set a $108.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Berenberg Bank reiterated a “sell” rating and issued a $76.00 price target on shares of Molson Coors Brewing in a research note on Friday, November 3rd. Citigroup decreased their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Deutsche Bank began coverage on shares of Molson Coors Brewing in a research report on Wednesday, December 13th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $116.00 target price on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $96.88.
Shares of Molson Coors Brewing Co (NYSE TAP) opened at $76.25 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79. The stock has a market cap of $16,507.28, a PE ratio of 17.48, a PEG ratio of 1.71 and a beta of 0.79. Molson Coors Brewing Co has a 1 year low of $72.71 and a 1 year high of $100.89.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.60 billion. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. sell-side analysts anticipate that Molson Coors Brewing Co will post 5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, March 2nd. This represents a $1.64 annualized dividend and a yield of 2.15%. Molson Coors Brewing’s payout ratio is 25.51%.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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